Industry Veterans Join AllDigital Board of Directors
April 30 2015 - 9:00AM
AllDigital Holdings, Inc. ("AllDigital") (OTCBB:ADGL) is pleased to
announce the addition of two new board members, with industry
veteran Philip N. Kaplan joining as board chairman, and hedge fund
manager Leonard Wanger joining as board member and audit committee
chair. They join AllDigital's board at an important time when
management looks to complete its fundraising and the company's
strategic shift to a high-growth, recurring revenue-based business
model.
"When I took over as CEO of AllDigital last year, it was my
pledge to recruit the very best, most talented and relevant leaders
to join AllDigital's board of directors. Both Phil and Len
have the background, experience and career success necessary to
help take AllDigital to the next level and beyond. Phil will
become our Chairman of the Board and Len will provide leadership on
the finance and audit committees. As we move forward with our
product pivot to focus on AllDigital Brevity, it's a huge benefit
to have the active participation of such experienced business and
technology leaders," said Michael F. Linos, CEO and President of
AllDigital.
"I believe the AllDigital team has positioned itself well to
give its clients breakthrough file transport and formatting
capabilities. I look forward to working with Len Wanger to
support Michael Linos and the AllDigital team in building the
company's scale and value, as we have done together before," said
Mr. Kaplan.
"I'm excited to join the board and to support a talented
AllDigital team as it looks to execute on a number of critical
initiatives," said Mr. Wanger.
Further background on Mr. Kaplan and Mr. Wanger follows.
Philip N. Kaplan
Mr. Kaplan has over 25 years diverse business operations
expertise in early-stage and high growth technology
companies. He has overseen as principal executive more than
twelve M&A transactions and four successful exits from both
publicly traded and privately held companies. He has served
for over a decade as a board member for public and private
technology growth companies.
Mr. Kaplan currently serves as the managing partner of two
family businesses in the technology consulting and residential real
estate sectors, and as board member of online action sports company
Surfline.com. He most recently served as CEO of dbtech, a
private equity owned healthcare IT company. Previously, Mr.
Kaplan served as an executive officer of three different
NASDAQ-listed technology companies, including Chief Operating
Officer and board member of healthcare IT company Quality Systems,
Inc. (Nasdaq:QSII), Chief Strategy Officer of Internap Network
Services Corporation, and President and Chief Operating Officer of
VitalStream, which Mr. Kaplan co-founded and sold to Internap
Network Services Corporation.
Leonard Wanger
Mr. Wanger is an experienced hedge fund manager and a successful
investor and operator with more than 25 years of experience at
founding, funding, and exiting from emerging technology
companies. He has more than 5 years of experience as a board
member of publicly traded companies, including 5 years as audit
committee financial expert. He was a director and
chairman of the audit committee at VitalStream.
Mr. Wanger was a portfolio manager and securities analyst at
William Harris Investors and has served as an outside advisor to
Acorn Funds and Wanger Asset Management, providing analysis on
companies in software, computer graphics, and
biotechnology. He served as Director of Engineering for MDL
Information Systems (a Reed Elsevier company), and as Director of
Engineering for Interactive Simulations, Inc., a venture-backed
start-up providing molecular modeling software for the
pharmaceutical industry that was purchased by MDL in 1999.
Current AllDigital board members David Williams and Mark Walsh
will be stepping down from the board concurrent with Messrs. Kaplan
and Wanger joining the board such that the AllDigital board of
directors will remain its current size of 4 board members.
About AllDigital
AllDigital engineers software and hardware solutions to
accelerate and optimize the distribution of digital video.
AllDigital is the developer of AllDigital Brevity, a software and
hardware-based solution designed to move digital video files at
high speeds, with patented technology to optimize the digital
workflow by encoding digital video files during high-speed
transmission.
For more information about AllDigital (OTCBB:ADGL) visit
www.alldigital.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
With the exception of historical information, the matters
discussed in this press release including management completing its
fundraising, the company's strategic shift to a high-growth,
recurring revenue-based business model, and management's position
that the additional board members have the background and
experience necessary to help take AllDigital to the next level and
beyond, are forward looking statements that involve a number of
risks and uncertainties. The actual future results and performance
of AllDigital and AllDigital Brevity could differ from those
statements. Factors that could cause or contribute to such
differences include, but are not limited to, unexpected product
implementation delays; adverse economic and market conditions; lack
of capital necessary to fund new product development; the inability
to achieve operational improvements; and other events, factors and
risks previously and from time to time disclosed in AllDigital's
filings with the Securities and Exchange Commission including,
specifically, those factors set forth in the "Risk Factors" section
contained in AllDigital's Form 10-K filed with the Securities and
Exchange Commission on April 20, 2015. AllDigital expressly
disclaims any obligation to update or revise any forward-looking
statements found herein to reflect any changes in expectations or
results or any change in events.
CONTACT: Email: ir@alldigital.com
Phone: 949.250.0701 x101
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